Logo Springfield Fair Market Rent FY 2015 Springfield, IL MSA Rental Data

Fair Market Rent Prices in Springfield, IL :
$464 $574 $730 $955 $1,006
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Springfield are average compared to the national average. This FMR area is more expensive than 70% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Springfield is $730 per month.

The previous year, rent for a two-bedroom home was $743 per month. This is a 1.75% decrease year-over-year.

This FMR rate applies to Lincolns New Salem, IL, Lowder, IL, Thayer, IL, Tallula, IL, Buffalo, IL, Cantrall, IL, Glenarm, IL, Loami, IL, Greenview, IL, Dawson, IL and other cities within the region. The Metro Code or CBSA code for this region is METRO44100M44100.

Additionally, This Fair Market Rent (FMR) area Springfield, IL MSA spans two counties or cities in Illinois which ares listed in the table below. Estimated population of Springfield, IL MSA FMR area is 210,170 people based on 2010 Census data.

Compared to the rest of Illinois, the Springfield FMR area is more expensive than 85% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Springfield. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Springfield

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 496
1-BR 1-Bedroom $ 613
2-BR 2-Bedroom $ 780
3-BR 3-Bedroom $ 1020
4-BR 4-Bedroom $ 1075
Change Year:

The counties, cities, towns, and regions listed below fall into the Springfield, IL MSA FMR area and have the same Fair Market Rent prices which are listed above. This FMR area covers one metro area: Champaign & Sprngfld - Decatur.

County / Region Est. Population
Menard County, IL Metro 12,705
Sangamon County, IL Metro 197,465
Zip Codes in Springfield, IL MSA

There are 45 unique zip codes in this Fair Market Rent (FMR) area:

62515, 62520, 62530, 62536, 62561, 62615, 62625, 62629, 62642, 62659, 62661, 62662, 62684, 62688, 62689, 62701, 62702, 62703, 62704, 62705, 62706, 62707, 62708, 62711, 62712, 62715, 62716, 62719, 62722, 62723, 62726, 62736, 62739, 62756, 62762, 62763, 62764, 62765, 62766, 62767, 62769, 62776, 62781, 62791 and 62796

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